“Our committee needs to investigate the trillions spent in the power sector.”
Maybe government is not doing its own part. We need to find out. There is lack of capital. We feel very bad. There is no electricity and the country is suffering.”
Adopting a motion sponsored by the Chairman of the Senate Committee on Power, Gabriel Suswam, the upper chamber declared that if the privatization in the power sector was not reversed, Nigeria might stop having electricity in the next 10 years. The committee was charged to investigate all market participants in the power value chain and ascertain the level of corporate governance compliance in the Nigerian Electricity Supply Industry and to report back within four weeks. The Central Bank of Nigeria was urged to allow operators in the power sector access to foreign exchange for the procurement of equipment and materials as it is done in the aviation and oil industries.
Defending his motion earlier, Suswam said it was alarming that the COVID -19 pandemic had further impacted negatively on the NESI as the Discos reported 50 per cent loss of average monthly revenue collection for the months of March and April. To strengthen the nation’s economy,the Senate yesterday began an amendment to the Nigerian Oil and Gas Industry Content Development Act 2010 following the consideration of a bill seeking to boost local content.
would domesticate a substantial part of oil and gas exploration and production activities within Nigeria. The lawmakers called on the military formations and the Nigeria Police to increase their surveillance to track movements by these armed bandits to prevent them from accessing any safe haven. “A major offensive in Katsina State alone is likely to make the armed bandits and kidnappers seek a safer haven in Zamfara, Kaduna and Niger states which host the Zurmi and Kamuku forests, among others, further compounding the plight of hapless and poor communities along these forest corridors.”
Worried by the revelations, the Senate charged President Buhari to review the fight against the bandits with a view to taking very urgent military actions against the criminals. “But graciously, the Nigerien Army has been assisting in warding off the bandits, the very reason not less than 5,000 people in the affected areas have migrated to Niger Republic for safety,” he disclosed.
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